World’s Richest Men – level 3

30-11-2020 15:00

The co-founder of Tesla, Elon Musk, passed Bill Gates to become the world’s second-richest person.

The 49-year-old entrepreneur’s net worth soared from $7.2 billion to $127.9 billion when Musk added $100.3 billion to his net worth this year. It is the most of anyone on the Bloomberg Billionaires Index that ranks the world’s 500 richest people. In January, Musk ranked 35th.

Musk’s advance up the wealth ranks has been driven largely by Tesla whose market value is approaching $500 billion.

Musk’s milestone marks only the second time in the index’s eight-year history that Microsoft co-founder Bill gates has ranked lower than number two. Gate’s net worth is $127.7 billion; however, it would be much higher if he had not donated more than $27 billion to charity over the years. Gates held the top spot for years before he was bumped by Amazon founder Jeff Bezos in 2017 whose net worth is currently $182 billion.

Difficult words: entrepreneur (a person who makes money from new ideas in business), net worth (the value of the assets and money that a person or business has after the debts are taken away), advance (a forward movement), bump (to remove, to lower).

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